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Bitget completes $10 million USD Series-B funding round, reaching a valuation of $1 billion

·1 min read

Bitget announced today that it has officially completed $10 million USD in Series-B financing backed by Anlan Capital growth fund as well as South Korea-listed Japanese gaming company SNK, raising its valuation to USD $1 billion. Previously in 2018, Bitget received its Series-A funding of an initial $10 million USD by leading Blockchain investment funds.

Osaka-based SNK games serve as the lead investment company for Bitget’s Series-B investment round. With a recent IPO listing on KOSDAQ South Korea, SNK has set the highest market value of a foreign listed company in Korean history. Since its inception in 1978, SNK needs little introduction as a pioneer in video games with a wide background in arcade gaming consoles like the Neo Geo and titles such as the King of Fighters.

Anlan Capital is China’s largest global growth fund. With a focus on investments in TMT, internet finance, artificial intelligence and big data, Anlan selectively invests in top-echelon growth start-ups. At present, Anlan’s portfolio includes the likes of many familiar tech giants。

This round of financing demonstrates investor and market confidence in Bitget’s brand value as well as development potential. To this end, Bitget mentioned that it will use these funds for product innovation and high-growth expansion into the global market. In addition, product development is also a core focus of the exchange, with funds allocated to improving user services, subsidize new user sign-up and trading bonuses as well as cultivate quality partner-affiliates.

(Syndicated content)